Week 5: Lab Overview
TABLE OF CONTENTS

Lab Overview
Scenario/Summary
Summit Ridge Mountain Resorts has decided to expand. Because of the popularity of the resort among the business community and families, Summit Ridge has decided to purchase some apartments for guests and seasonal employees to have an extended stay. Because these will prove to be a long-term investment, Summit Ridge has decided to put all complexes on a remodeling rotation to ensure the apartments each have a modern and functional style.
It is now your job to analyze the information regarding the apartments. The owners are looking for some specific information about rentals by apartment size (such as the number of bedrooms per apartment). Based on current housing interest rates, Summit Ridge is considering a sixth apartment complex and has asked you to perform some financial calculations and analyses to determine how adding this new complex to their portfolio enhances the resort’s financial position. They will then use this information to come up with a marketing plan to attract additional customers to the resort.
Remember that you are making a professional analysis and presentation, so be sure to give some thought to what you are trying to recommend to the management of Summit Ridge and why.
Deliverables
After completing the steps below, turn in one Excel 2016 workbook. Rename the workbook with your lastname_first initial_Week5_Lab. xlsx. Example: If your name were Jane Doe, your workbook would be Doe_J_Week5_Lab.xlsx.
The grading rubric for this assignment is available in the weekly Lab assignment page. The most successful students always review the criteria in this rubric before uploading their lab. This allows them to check that they have completed all of the steps in the lab. It is a very helpful final review prior to submission.
Lab Resources
Microsoft Office: Excel 2016
Options for Accessing Microsoft Excel 2016
1. Use a personal copy on your PC. You can request a copy of Microsoft Office 2016 via the Student Software Store icon on the Course Resources page.
2. If you are a MAC user, click to read the MAC User Information.
3. If you do not have Excel 2016 installed locally, then access the software by going to the Course Resources page, Lab Resources section, and click the Virtual Lab Citrix icon.
Lab Steps
Preparation
You will be using Microsoft Excel 2016 for this lab.
Be sure you have read the required chapter materials and reviewed the hands-on exercise videos located on the Lesson page before you begin the lab. The videos provide detailed examples walking you through the hands-on exercises. Applying the hands-on exercise examples will provide both practice and instruction of what to complete, but you will be completing the exact steps described below and submitting your workbook after you complete all steps.
Begin: Open and Save
Download the spreadsheet STUDENT_BIS155_W5_Lab5_Starter_File.xlsx. (Links to an external site.)Links to an external site.You will be prompted to save the file. Click yes.
Open the saved file from your Download folder on your computer.
Note: If you are using the Remote Lab environment, you will need to follow the instructions for uploading the file. These instructions can be found on the Lab page when you click on the Lab icon on Course Resources.
To save the spreadsheet with a new file name,
• open the workbook in Excel 2016; and
• in Excel, click File, then Save as, and rename it as lastname_first initial_Week5_Lab.xlsx (Jane Doe would save the file as Doe_J_Week5_Lab.xlsx).
Step 1: Insert Functions
A. Select the Search worksheet and then the Pet Deposit column. Create a formula to determine the required pet deposit for each unit. If the unit has two or more bedrooms and was remodeled after 2006, the deposit is $150; if not, it is $100.
B. The Recommendation column needs a nested function to indicate the remodeling status. If the apartment is unoccupied and has not been remodeled before 2006, then display “Please remodel” in the Recommendation column. Display ” ~ No Change” for apartments that do not meet the former criteria.
C. Make sure each field has the appropriate professional formatting for titles, headers, currency, percent, and so forth. Your worksheets need to be readable, clean, and professional. Please let spell-check work for you; use this feature to check for spelling errors.
Click Image to Expand

Step 2: Quick Search
Now that all of the rental properties are listed and organized, the owners would like to be able to search through the apartment numbers and return the price of the apartment number listed.
A. Insert number 1301 in cell B3. B3 is the cell that will be used to research apartment unit prices.
B. Create a nested lookup function in cell E3. Look up the rental price in column D using the apartment unit number in cell B3. (Use the INDEX function.)
C. Make sure each field has the appropriate professional formatting for titles, headers, currency, percent, and so forth. Your worksheets need to be readable, clean, and professional. Please let spell-check work for you; use this feature to check for spelling errors.
Click Image to Expand

Step 3: New Apartment Loan Amortization
Summit Ridge Ski owners want to purchase a sixth apartment complex. This decision is under review. Here are the details of their offer. The loan amount is $950,000 with a down payment of $400,000 for 30 years at 5.325%, with the first payment due on January 20, 2017. Please consider the loan calculations and build a loan amortization table on the Loan worksheet. Click on the Loan worksheet to begin.
A. Enter the loan details provided above in the Input Area and place formulas to create all calculations in the Summary Calculations. The loan payment is at the end of the period.
B. Create a loan amortization table. The Payment Date column needs a date function. The Interest Paid and Principal Payment columns require financial functions.
C. Create a custom footer with your name on the left side, the page and page number in the center, and your professor’s name on the right side of each worksheet. Make sure you put the page back to normal view after you insert the footer at the bottom.
Loan Details
Step 4: Conditional Functions
In addition to adding the new apartments to their financial portfolios, the owners of Summit Ridge Ski Resort would like to ensure that they are paying their employees at market value and want to continue to encourage employees to stay with the company. Another phase of your project is to research all employee salaries to see if they have any effect on job satisfaction. Employee satisfaction surveys allow the company to get a pulse for how content employees are. A voluntary survey was administered to a cross-section sample of all employees in the company. This next bit of work will be on the Employee Satisfaction Worksheet.
A. Calculate the average job satisfaction for Administrative Assistant in cell I5. Format the results with the number format and two decimal positions.
B. Use the fill handle from cell I5 to copy the function down through the range I6:I11. Make certain to consider the appropriate mixed and/or absolute cell referencing.
C. Calculate the average salary of all Administrative Assistants and place the result in cell J5.
D. Use the fill handle from cell J5 to copy the function down through the range J6:J11. Make certain to consider the appropriate mixed and/or absolute cell referencing.
E. Calculate the number of Sales and Marketing Directors in cell I14 that have a job satisfaction level of 4 or above.
F. Calculate the average salary of Sales and Marketing Directors in cell I15 that have a job satisfaction level of 4 or above.
G. Use a process like that demonstrated in steps E and F to calculate the total number and the average salary of Managers that have a job satisfaction of 4 or greater.

H. Use the Employee Satisfaction data to create a Pivot Table showing the average salary and Job Satidfation by Position (rows). Format professionally and sort highest salary to lowest.

Step 5: Create a Documentation Sheet
Clean up the formatting of your Excel workbook, taking into account professional appearance.

The Minimum Requirement (per the Grading Rubric)

A. Insert a new spreadsheet into the workbook. The Documentation sheet should be the first sheet in the workbook.
B. Make certain each tab has a descriptive name and color for each tab (sheet) in the workbook.
C. Create the professional documentation worksheet. Be sure to include a description of each worksheet. An image is provided below.

Week 5 Documentation Sheet

Transcript
Finish and Submit
Save your Excel file. Make sure you are aware as to where your files are physically saved. Saving your file often is good practice (Ctrl + s).
Your Excel file should contain five worksheets.
• Documentation Page
• Search
• Loan
• Employee Satisfaction
• Satisfaction Pivot Table
Submit one workbook. When submitting the workbook, provide a comment in the comments area explaining what you learned from completing this lab activity. File naming convention: If your name is Jane Doe, then your file should be named very similar to Doe_J_Week5_Lab.xlsx.